As Moody's strips the U.S. of its last AAA credit rating, financial markets and currency analysts are weighing whether the dollar's role as the world's primary reserve <a href="https://www.benzinga.com/25/05/45492889/americas-credit-strength-just-got-cut-again-should-you-panic">currency could slowly erode. </a>



Analysts across major institutions agree that Treasuries remain indispensable in global finance, and no mechanical turmoil is expected in the near term.



Yet, the downgrade's timing and symbolism—arriving amid growing fiscal deficits, political uncertainty and weakening sentiment—have amplified calls for greater diversification from dollar-denominated investments for foreign investors.



<h3 class="wp-block-heading">Dollar&#8217;s Dominance Isn't Over, But It's Under Pressure</h3>



"The link between U.S. sovereign risk, Treasuries, and the dollar is one of capital flight," said Chris Turner, analyst at ING Group. 



"Are global investors shifting their portfolios away from the U.S.?" 



He highlighted that March data from the U.S. Treasury's International Capital report showed foreign buyers added $26 billion in Treasuries, though China trimmed its holdings by $19 billion. 



Turner said upcoming TIC data for April, due mid-June, will be key to determining any real trend.



<h3 class="wp-block-heading">Downgrade Could Spark Market Volatility</h3>



According to Alejandro Cuadrado, forex strategist at BBVA, Moody's downgrade—though symbolic—arrives at a vulnerable time.



"It may act as a psychological catalyst," he said. Unlike S&amp;P's 2011 or Fitch's 2023 downgrades, this one coincides with bearish sentiment in Treasuries and rising global fiscal concern.



Cuadrado said the structural use of Treasuries in collateral systems, reserve portfolios and liquidity management remains unchanged. 



Still, "in this macro environment, the downgrade could amplify market jitters and FX volatility," he said, potentially weakening the dollar's ability to rebound after a three-month slide.



"The downgrade highlights long-term risks, including debt sustainability, which could further erode the dollar's haven appeal," George Vessey, lead macro strategist at Convera, said.



<h3 class="wp-block-heading">Time to Start Reducing Dollar Exposure?</h3>



According to UBS, the recent consolidation in the dollar following earlier weakness offers a strategic moment for reallocation.



"We believe that this provides an opportunity for investors with excess USD cash, or international investors with unhedged exposure to U.S. assets, to reduce their exposure to the U.S. dollar."



Over the long term, UBS sees further structural risks. "The trend of international diversification could lead to further dollar weakness, particularly if the Federal Reserve begins to play a more active role intervening in bond markets amid high fiscal deficits."



<h3 class="wp-block-heading">Not A Collapse For Now, Yet Caution Is Warranted</h3>



The Dollar Index (DXY) – which is tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – fell 0.8% on Monday, erasing gains from last week on the back of a U.S.-China trade truce.



Capital flight hasn't hit the data yet, but concerns about U.S. debt and policy are starting to grow worldwide.



For the time being, the dollar remains the anchor of global trade and finance—but the psychological buffer it once enjoyed is showing cracks, and that shift may matter more than a credit downgrade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/bonds/25/05/45396490/peter-schiff-says-trade-truce-aside-the-world-is-losing-confidence-in-dollar-and-in-us-ability-to-put-fiscal-house-in-order">Peter Schiff Says Trade Truce Aside, The World Is &#8216;Losing Confidence&#8217; In Dollar And In US Ability To Put &#8216;Fiscal House In Order&#8217;</a> </li>
</ul>



Image created using artificial intelligence via Midjourney.

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Currency ETFs

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ETFs

Is The Dollar's Global Reserve Role At Risk After Moody's Downgrade?

Wall Street's reaction to <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody's downgrade of U.S. debt </a>is turning into a tale of two titans. On one end, you have Ray Dalio — founder of Bridgewater Associates — warning that the downgrade grossly understates the true risk of owning U.S. debt.



On the other hand, there&#8217;s Tom Lee of Fundstrat. Lee brushed the downgrade off as a "non-event" and told investors to go shopping for stocks.



Moody's cut the U.S. credit rating from Aaa to Aa1, following in the footsteps of S&amp;P in 2011 and Fitch in 2023. With this move, the U.S. officially loses its AAA status across the board. 



But is it a flashing red signal or just another headline?



Read Also: <a href="https://www.benzinga.com/hedge-funds/25/05/45447966/ray-dalios-bridgewater-dumps-spy-trims-nvidia-meta-alphabet-bearish-vibes">Ray Dalio&#8217;s Bridgewater Dumps SPY, Trims Nvidia, Meta, Alphabet — Bearish Vibes?</a>



<h2 class="wp-block-heading">Ray Dalio: The Real Threat Isn&#8217;t Default, It Is&#8230;</h2>



Dalio didn't mince words. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Re the U.S. debt downgrade, you should know that credit ratings understate credit risks because they only rate the risk of the government not paying its debt. They don&#39;t include the greater risk that the countries in debt will print money to pay their debts thus causing holders…&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1924452875108839862?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He argued the real threat isn't default, but dilution — central banks printing money to meet obligations. 



"For those who care about the value of their money," he posted on X, "the risks for U.S. government debt are greater than the rating agencies are conveying." Translation? The downgrade misses the bigger picture: currency debasement.



<h2 class="wp-block-heading">Tom Lee: Downgrade = Largely &#8216;Non-Event&#8217;</h2>



Tom Lee, meanwhile, is telling clients to stay calm and keep buying. Like those before, he says this downgrade is unlikely to trigger panic. History might just be on his side — after S&amp;P's downgrade in 2011 and Fitch's in 2023, the S&amp;P 500 plunged roughly 10% in the short term but rallied over 35% within a year in both cases.



So what now? If Dalio's right, long-term bondholders could face slow bleed-through inflation, not default. But if Lee's playbook holds, a short-term dip could be just the setup bulls need.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/05/45491935/history-says-sp-500-could-fall-10-after-rating-downgrade-but-rally-35-after">S&amp;P 500 History Suggests 10% Drop After Downgrade — Followed By 35% Rally</a></li>
</ul>



Image: Shutterstock

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Hedge Funds

Economics

Dalio Sees Danger, Tom Lee Sees Dip-Buy: Who's Right About The US Credit Downgrade?

Wall Street's <a href="https://www.benzinga.com/topic/billionaires">billionaire brigade hit</a> turbulence in the first quarter of 2025. From Warren Buffett to George Soros, even the most iconic names couldn't dodge the drawdowns as markets rotated and profit-taking weighed down performance.



Buffett's Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) <a href="https://whalewisdom.com/dashboard2/search/fund_performance_search">saw </a>a -2.52% return on an equal-weighted basis in the first quarter, trailing its own 3-year and 5-year annualized returns of 7.10% and 10.90%, respectively. The world's most famous value investor remains heavily concentrated &#8211; 89% of his $258 billion portfolio sits in the top 10 holdings &#8211; but that concentration didn't provide a cushion in a volatile quarter.



Carl Icahn fared even worse. The activist legend posted a brutal -10.15% quarterly return &#8211; by far the worst among the billionaire cohort. Despite nearly 98% portfolio concentration, Icahn&#8217;s equal-weighted decline highlights how even conviction bets can backfire. His 5-year return of 15.99% is respectable, but the near-term pain is undeniable.



Read Also: <a href="https://www.benzinga.com/general/biotech/25/05/45471704/icahn-ramps-up-bets-on-genes-and-jets-illumina-stake-jumps-450-jetblue-holding-grow-90">Icahn Ramps Up Bets On Genes And Jets: Illumina Stake Jumps 450%, JetBlue Holding Grow 90%</a>



Soros, known for macro mastery, couldn't escape the downturn either. His fund returned -1.81%, despite maintaining a more diversified approach across 287 holdings. While Soros&#8217; 3-year return of 13.11% remains solid, the first quarter slip suggests even global tacticians weren't spared by the market's crosscurrents.



Bill Ackman's Pershing Square also struggled, dropping -2.72% in the first quarter. With a razor-sharp portfolio of just 12 holdings &#8211; and an eye-popping 99.5% concentration &#8211; Ackman's approach didn't offer much defense this quarter. His 5-year annualized return of 16.88% still towers over peers, but the first quarter was a rare off note.



Bottom line? 



The billionaire investors who thrived on bold bets and long-term conviction were handed a reality check. The first quarter wasn't about who&#8217;s biggest &#8211; it was about who could adapt. And for once, the billionaires blinked.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/hedge-funds/25/05/45447966/ray-dalios-bridgewater-dumps-spy-trims-nvidia-meta-alphabet-bearish-vibes">Ray Dalio&#8217;s Bridgewater Dumps SPY, Trims Nvidia, Meta, Alphabet — Bearish Vibes?</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

Buffett, Ackman, Icahn Take A Beating As Billionaires Weather Q1 Chaos

Moody's Ratings has officially stripped the U.S. of its final AAA credit score — the highest mark of financial credibility — sparking political uproar and media alarm, yet market analysts and economists widely believe it will have limited impact on <a href="https://www.benzinga.com/topic/expert-ideas">the broader financial system.</a>



<h3 class="wp-block-heading">What Did Moody's Decide About US Credit Rating?</h3>



Moody's cut the U.S. long-term sovereign credit rating to Aa1 from Aaa on Friday, citing sustained fiscal deficits, rising debt burdens and growing interest costs. 



The agency criticized "successive U.S. administrations and Congress" for failing to implement a credible debt reduction strategy.



This move aligns Moody's with Fitch Ratings, which downgraded the U.S. in August 2023, and S&amp;P Global Ratings, which cut the rating back in 2011. 



For the first time, all three major credit agencies have the U.S. rated below AAA.



<figure class="wp-block-table is-style-regular"><table class="has-fixed-layout"><thead><tr><th>S&amp;P</th><th>Moody&#8217;s</th><th>Fitch</th></tr><tr><th>AA+</th><th>Aa1</th><th>AA+</th></tr></thead></table></figure>



<h3 class="wp-block-heading">Do Markets Care This Time?</h3>



"This downgrade won't force anybody to do anything on Monday," said Jim Bianco of Bianco Research. 



He noted that after S&amp;P&#8217;s 2011 downgrade caused market disruption due to contract language requiring AAA-rated collateral, those rules were rewritten. "Now, these contracts reference ‘government securities,' not ratings," he said.



Bianco added, "So technically it didn't even change the US's overall credit rating because it was already split rated AA+. Now it's unanimous AA+. Nothing changed."



<h3 class="wp-block-heading">Debt Concerns Are Misguided</h3>



Macro analyst Alfonso Peccatiello also challenged the logic behind the downgrade. He indicated that U.S. debt in its own currency is not inherently dangerous. 



"Any government doing deficit spending and issuing bonds in its own currency—like the U.S.—isn't walking into an abyss of doom," Peccatiello said. "It's just choosing to stimulate the economy by printing money for the private sector."



Addressing concerns about the $1 trillion annual interest burden, he said this is simply money being transferred from the government to investors holding Treasury bonds. 



"For every dollar the U.S. pays in interest, there is an investor making that dollar," he said, framing it as a redistribution within the economy, not a red flag of insolvency.



Peccatiello explained that U.S. Treasuries continue functioning as high-quality liquid assets for banks under Basel regulations.



"The downgrade to AA+ wouldn't make any difference," he said, as government bonds rated between AAA and AA- carry the same 0% risk weighting under Basel's framework.



He said rising deficits only become problematic when they cause inflation or resource scarcity—not because of arbitrary credit score thresholds.



According to Peccatiello, long-term bond yields are already pricing in much of the fiscal outlook, making current levels—particularly 30-year Treasuries above 5.25%—increasingly attractive for accumulation.



<h3 class="wp-block-heading">More Politics Than Panic</h3>



Economist Mohamed El-Erian called the move "historic," but said it was unlikely to shake global markets. 



However, he added that the downgrade "amplifies the conversation about America&#8217;s political ability to address its fiscal deficit and debt trajectory."



El-Erian&#8217;s view mirrors market action: U.S. Treasuries remain the most trusted collateral globally, and their deep liquidity shields them from dramatic dislocations.



<h3 class="wp-block-heading">Political Reactions And The Trump Administration's Position</h3>



Treasury Secretary Scott Bessent, speaking on CNBC, called Moody's decision "a lagging indicator." 



He said, "We inherited a 6.7% deficit-to-GDP ratio, the highest when we weren't in a recession or at war. We are determined to bring spending down."



Bessent added that foreign capital flows remain robust. "Saudi Arabia, Qatar, and the UAE are pushing more and more money into the U.S., with 10-year investment plans," he said.



<h3 class="wp-block-heading">Wall Street Shakes On The Downgrade</h3>



Despite widespread commentary downplaying Moody's downgrade of U.S. debt, investors reacted defensively in Monday's premarket, with major equity futures sliding and high-growth tech stocks leading losses.



S&amp;P 500 futures fell 1%, while Nasdaq 100 contracts dropped 1.5%, signaling a risk-off tone ahead of the Wall Street open.



Among mega-cap stocks, the worst-hit names in premarket trading:



<ul class="wp-block-list">
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) declined 2%. </li>



<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) dropped 4.4%.</li>



<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) declined 3.9%.</li>



<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) slipped 2.9%.</li>



<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost 2.7%.</li>



<li>United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) fell 2%.</li>
</ul>



The 30-year U.S. Treasury yield jumped 10 basis points to 5%, hitting its highest level since October 2023. The spike in yields reflects investor concerns over the long-term fiscal trajectory and a higher-for-longer interest rate environment.



The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>)—a popular proxy for long-dated U.S. bonds—fell 1.6% in premarket trading, continuing a trend of weakness in duration-sensitive assets.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45489038/us-stocks-likely-to-open-lower-after-moodys-downgrade-bear-market-isnt-fully-recovered-yet-but-it-is-close-says-expert">US Stocks Likely To Open Lower After Moody&#8217;s Downgrade: &#8216;Bear Market Isn&#8217;t Fully Recovered Yet, But It Is Close,&#8217; Says Expert</a></li>
</ul>



Image: Shutterstock

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America's Credit Strength Just Got Cut Again: Should You Panic?

On Monday, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang took center stage at Computex 2025 in Taipei with <a href="https://www.benzinga.com/media/25/05/45426637/nvidia-ceo-jensen-huang-expected-to-unveil-new-ai-alliances-at-computex-2025-as-geopolitical-pressures-persist-over-tech-sector">a sweeping keynote that revealed</a> the company's aggressive roadmap to power the next era of artificial intelligence — from personal AI supercomputers to an ambitious AI infrastructure hub in Taiwan.



What Happened: Speaking to a packed Taipei Music Center, Huang was wearing his trademark leather jacket. After taking the stage, he noted that among the audience at the Taipei Music Center are "my parents."&nbsp;



Huang also openly expressed his deep affection for his homeland, Taiwan. He remarked, "Taiwan, which I have been visiting for over 30 years, is the hometown of our invaluable partner corporations. We are working together to open the AI ecosystem," he stated.



The Nvidia CEO then gave a brief description of the company's journey and growth milestones over the years. "We realize now, we're an AI infrastructure company. An infrastructure company that's essential all around the world," he stated at some point while talking about the same.



See Also: <a href="https://www.benzinga.com/media/25/05/45487329/nvidias-jensen-huang-gets-rockstar-welcome-in-taiwan-pop-up-merch-screaming-fans-and-jet-parking-drama">Nvidia&#8217;s Jensen Huang Gets Rockstar Welcome In Taiwan — Pop-Up Merch, Screaming Fans And Jet Parking Drama</a>



Key announcements included the RTX 5060 GPU alongside a new MSI laptop equipped with the same chip, the DGX Spark desktop AI workstation, and NVLink Fusion — a groundbreaking interconnect technology that lets other chipmakers integrate Nvidia's systems into their own infrastructure.



Huang also announced that Nvidia will <a href="https://www.benzinga.com/25/05/45487650/nvidia-tsmc-and-apple-supplier-foxconn-partner-to-develop-taiwan-ai-supercomputer">develop AI infrastructure for a large-scale</a> supercomputing ecosystem in collaboration with Foxconn, Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), and Taiwan's National Science and Technology Council, or NSTC.



The CEO also introduced Nvidia Constellation, a new office in Taipei's Beitou district.



During his presentation, Huang also shifted focus to accelerated computing, highlighting Nvidia's CUDA-X libraries as a core part of the company&#8217;s broader ecosystem. Emphasizing that Nvidia's innovation extends beyond GPUs, he showcased platforms like Earth-2 for climate modeling and Megatron Dynamo for deep learning.



In robotics, Huang showcased the Isaac Groot platform and Newton engine, enabling robots to learn real-world navigation and human-like actions via simulation. He also revealed that Nvidia's RTX Server Pro would support DeepSeek's R1 model.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="NVIDIA CEO Jensen Huang Keynote at COMPUTEX 2025" width="500" height="281" src="https://www.youtube.com/embed/TLzna9__DnI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Why It&#8217;s Important: Nvidia is set to report its first-quarter earnings on May 28 after the market closes. Analysts, as per <a href="https://www.benzinga.com/pro/login">Benzinga Pro</a>, anticipate earnings of 89 cents per share on revenue totaling $43.07 billion.



Nvidia currently holds a consensus price target of $172.32, based on ratings from 39 analysts. The highest target, $220, was issued by Rosenblatt on Feb. 24, 2025.



The three latest updates by B of A Securities, UBS, and Seaport Global have set an average price target of $145, suggesting an implied upside of 11.07%.



Price Action: As of the time of writing, during Monday's pre-market session, Nvidia shares were down 3.57%, trading at $130.57.



According to Benzinga Edge Stock Rankings, Nvidia holds an impressive growth score of 95.02%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other top tech firms</a>.



<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19045408/Screenshot-2025-05-19-at-2.24.03%E2%80%AFPM.png" alt="" class="wp-image-919465" style="width:381px;height:auto"/></a></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45486464/nvidias-quantum-pivot-chip-giant-reportedly-mulls-major-stake-in-psiquantum-amid-rising-global-interest">Nvidia&#8217;s Quantum Pivot? Jensen Huang-Led Chip Giant Reportedly Mulls Major Stake In PsiQuantum</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: jamesonwu1972 / Shutterstock.com

News

Tech

Jensen Huang Reveals RTX 5060, DGX Station, Nvidia Constellation And More At Computex 2025: 'We Realize Now, We're An Infrastructure AI Company'

On May 12, President Donald Trump followed through on a campaign promise by signing an Executive Order (EO) mandating that pharmaceutical companies lower their prescription drug prices in the US to those seen abroad.



At a media event, Trump told reporters he was aiming for price cuts of between 59% and 90% and gave drug companies 30 days to play ball.



Wall Street digested the news, and while major biopharma stocks saw share prices drop the day the EO was announced, most industry stocks rebounded.&nbsp;



Here are three pharma stocks that won&#8217;t just rebound, but are poised to soar because of Trump&#8217;s executive order.



<h1 class="wp-block-heading">Team Trump on Solid Ground?</h1>



Nobody&#8217;s denying that US drug prices are out of whack. A 2024 RAND Corporation study concluded US drug prices were approximately three times higher than those in 33 other developed countries.



Presidents have full power to order such a price cut from a private industry, at least in part.



&#8220;That&#8217;s especially the case in sectors like healthcare where government programs like Medicare are massive buyers,&#8221; said Lou Carter, founder and CEO at the Best Practice Institute in Palm Beach Gardens, Fla. &#8220;Policy isn&#8217;t just about law—it&#8217;s about leverage. This EO uses the weight of public programs to force pricing accountability, and that&#8217;s smart business when you&#8217;re managing taxpayer funds.&#8221;



Congress and the courts can try to stop the EO in its tracks, but success on that front is unlikely.&nbsp;



&#8220;Politically, it&#8217;s tough to argue against lower drug prices,&#8221; Carter said. &#8220;Even if pharma lobbies hard, most lawmakers know it&#8217;s political suicide to oppose something that helps seniors afford insulin. If this goes to court, it&#8217;ll hinge on procedural questions—not on whether the move is popular or right.&#8221;



<h1 class="wp-block-heading">Bigger Drug Makers are Hardest Hit</h1>



Given the size and scope of the EO, it&#8217;s no surprise that the more substantial drug companies may find themselves in financial trouble.&nbsp;



&#8220;Large-cap biotech and specialty pharma companies with heavy Medicare exposure like Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) or Regeneron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) could be hit hardest,&#8221; said Dr. Will Soliman, Founder and CEO of the New York City-based Accreditation Council for Medical Affairs. &#8220;They rely on high-margin (Medicare) Part B drugs.&#8221;



Vertical-oriented drug makers could also feel the heat from the EO.&nbsp;



&#8220;Specialized oncology manufacturers like Bristol Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) have greater exposure than diversified pharmaceutical companies with broader portfolio ranges,&#8221; said Seann Malloy, founder and managing partner of Malloy Law Offices in Bethesda, Md. &#8220;Small to mid-cap biotechnology companies with early commercial products often fall outside immediate impact zones due to limited Medicare utilization and existing price protection provisions. &#8220;



&#8220;The executive order&#8217;s key element mandates that Medicare&#8217;s prescription drug payments align with the lowest prices in other developed countries, essentially using international reference pricing,&#8221; Malloy said. &#8220;While some demonstration projects will start within 30 days, full implementation across all provisions will take longer, likely 6-12 months, due to necessary regulatory development. &#8220;



Timing could play a big role in determining how much of an impact the EO will have on biotech drug stocks, if any.



Initially, the order focuses on physician-administered drugs under Medicare Part B but may later include retail prescriptions under Part D. &#8220;This staged implementation means the immediate and long-term market effects will differ, a point often missed by investors,&#8221; Malloy noted. &#8220;Despite initial impressions of swift price changes, significant revenue impacts will likely be delayed by extensive regulatory procedures.&#8221;



Additionally, overseas drug providers may face stiff headwinds from the Trump drug price directive.



&#8220;International manufacturers are most vulnerable,&#8221; said Javier Palomarez, founder and CEO of the United States Hispanic Business Council. &#8220;Many of them ship to the United States because of the return on investment &#8211; eroding that return dampens the incentive and ability to ship medicines across the world, which could lead to total loss of US market access for some companies.&#8221;



<h1 class="wp-block-heading">Three Drug Stocks That Bear Watching Over the Next 30 Days</h1>



Biotech investors looking to leverage the Trump EO should understand Trump&#8217;s intention to &#8220;cut out the middleman,&#8221; as he said in his May 12 press event. This translates to good news for actual drug manufacturers and not-so-good news for so-called pharmacy-benefit managers.



PBM&#8217;s act as intermediaries between health insurance companies, big employers, drug manufacturers, insurers, and patients. While they don&#8217;t produce prescription drugs, they handle the more mundane side of the drug business, like claims processing and negotiating prescription drug prices.



The big drug producers have historically blamed the PBMs for sky-high drug prices and would likely back any initiative that expands the direct-to-consumer drug marketplace. In that scenario, no insurers are needed, as drug consumers could deal directly with drug manufacturers to buy the medicines they need, presumably at a more affordable price.



Investors in that marketplace would want large drug makers, and big PBMs would not. These three drug stocks stand out on the plus side.



<h2 class="wp-block-heading">Eli Lilly</h2>



Drug manufacturing giant Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) is priced high at $730 per share, but it&#8217;s a stock that would likely prosper in a direct-to-consumer prescription drug marketplace. The stock is off by 5.0% year-to-date, but 26 Wall Street analysts who track LLY give it a top rating. The company&#8217;s recent earnings per share are off the charts, with an upward spike of 106% in EPS in 2024 and an estimated 68% in 2025. The stock is off 20% compared to recent highs, which could mean a nice discount for a drug industry stalwart.



<h2 class="wp-block-heading">Novo Nordisk</h2>



Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) has experienced market woes that preceded the Trump E/O, as competitors continue to chew into market share in the lucrative weight loss drug market. Particularly damaging was a recent study that concluded patients taking Eli Lilly&#8217;s Zepbound were losing weight faster than with Novo&#8217;s Wegovy. That&#8217;s one big reason Novo Nordisk has seen its share price fall by 50% over the past year. Yet the stock is in rebound mode right now, up 13.9% over the past month. A $2.2 billion deal between Novo and Septerna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEPN#NASDAQ">SEPN</a>) to develop weight loss pills is seen as a big step by analysts and big names like Goldman Sachs and JP Morgan are sticking to their buy calls on the stock. Meanwhile, a larger group of industry analysts is out with a consensus 50% share price upside from current levels.



<h2 class="wp-block-heading">AbbVie</h2>



AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is a genuine cash flow producer that seems immune to any political interference from Washington, D.C. The drug manufacturer has a diverse set of popular prescription drugs, like Botox, Humira, Rinvoq, and Skyrizi. The stock only fell by a paltry 1% on the E news this week, and is up 5% over the past month. It also comes with a healthy 3.6% dividend for income-minded investors, a robust drug pipeline in play, and a brand new regulatory &#8220;green light&#8221; for its lung cancer drug Emrelis, supporting the rationale that ABBV shares should continue to climb in 2025.



<a href="https://benzinga.zoom.us/webinar/register/WN_OJ2FBspHSJSSVNlW8zGapw/?utm_campaign=webinar052025&amp;utm_adType=sponsorad&amp;utm_ad=RD051925/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">Smart Options Plays for Traders Watching Junk Bonds</a> Credit markets are breaking down. Volatility is back. Join Ryan Faloona, Anne-Marie Baiynd, and Tim Melvin live on May 20 at 6 PM ET to see how seasoned traders are using junk bond signals and short-term options to hedge, profit, and stay a step ahead. <a href="https://benzinga.zoom.us/webinar/register/WN_OJ2FBspHSJSSVNlW8zGapw/?utm_campaign=webinar052025&amp;utm_adType=sponsorad&amp;utm_ad=RD051925/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">Save your seat for this live tactical session.</a>



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3 Stocks That Will Profit From Trump's Drug Price Cut

It's downgrade déjà vu. Late Friday, after Wall Street had already packed up for the weekend, Moody's quietly dropped the hammer: the U.S. just got its <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">credit rating cut from Aaa to Aa1</a>.



If this feels familiar, that's because it is &#8211; and the market's playbook has been pretty consistent. The real question now: Will the market freak out for the third time, or has it finally learned to chill?



<h2 class="wp-block-heading">Another 10% Correction Coming?</h2>



Let's rewind.



In August 2011, Standard &amp; Poor's made history by downgrading U.S. debt for the first time ever. The result? A 10.37% drop in the S&amp;P 500 Index over the next 41 trading days, <a href="https://x.com/adamkhootrader/status/1923970924589744439">according</a> to data analyzed by Piranha Profits. But fast forward 12 months, and the index was up 36%. Investors who bought the dip didn't just survive &#8211; they thrived.



Then came August 2023, when Fitch pulled the same move. Same script, different year. The S&amp;P 500 slid 10.31% over 58 trading days. But again &#8211; patience paid off. One year later, stocks were up a cool 37%.



Now, here comes Moody's, joining the downgrade party. And yes, if the market follows precedent, we could be looking at another 10% correction.



Read Also: <a href="https://www.benzinga.com/markets/equities/25/05/45486452/jim-cramer-recalls-2011s-6-7-market-decline-after-us-debt-downgrade-says-it-ultimately-meant-nothing-dan-niles-sees-limited-downside-amid-tariff-rollbacks-fomo">Jim Cramer Recalls 2011&#8217;s 6.7% Market Decline After US Debt Downgrade, Says It &#8216;Ultimately Meant Nothing:&#8217; Dan Niles Sees Limited Downside Amid Tariff Rollbacks, FOMO</a>



<h2 class="wp-block-heading">Bulls Have Reasons To Shrug This One Off &#8211; But Will They?</h2>



But here's the twist &#8211; after two prior false alarms, has Wall Street stopped reacting to credit downgrades like it's the end of the world? After all, these cuts haven't exactly spelled disaster in the long run. Quite the opposite.



And let's not ignore the context: strong earnings from tech giants, resilient consumer spending, and cooling inflation may give bulls a reason to shrug this one off.



But if markets do panic on Monday, history suggests it could be yet another gift-wrapped opportunity to scoop up high-quality stocks at a discount.



Because if there's one thing we've learned, it's this: America's credit rating may slip &#8211; but investor memory tends to fade faster than a market dip lasts.



For investors holding broad S&amp;P 500 ETFs like SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), and Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>), the Moody's downgrade may feel unsettling at first glance &#8211; especially heading into Monday's open. But history offers a useful compass. During the past two U.S. debt downgrades in 2011 and 2023, the S&amp;P 500 fell over 10% within two months, only to surge more than 35% over the following year. If markets follow a similar playbook, any short-term volatility could prove to be a golden buying window for long-term investors. 



In other words, don't be surprised if passive index investors wind up thanking Moody's by this time next year.



Will Wall Street overreact a third time? 



Or has the market finally grown up? 



We'll find out Monday.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45488403/moodys-had-an-investment-grade-rating-on-us-debt-during-2008-global-financial-crisis-recent-cut-not-a-huge-shock-says-expert">Moody&#8217;s Had An Investment Grade Rating On US Debt During 2008 Global Financial Crisis: Recent Cut &#8216;Not A Huge Shock,&#8217; Says Expert</a></li>
</ul>



Photo: Shutterstock

Long Ideas

S&P 500 History Suggests 10% Drop After Downgrade — Followed By 35% Rally

U.S. stock futures dipped on Monday after closing higher for the day and the week on Friday. Futures of major benchmark indices were trading lower in premarket.



The S&amp;P 500 index recorded its fifth day of gains on Friday after turning positive for the year at the beginning of the previous week.



However, <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">Moody&#8217;s Ratings downgraded</a> the United States&#8217; long-term credit rating, from Aaa to Aa1 and shifted its outlook from &#8220;negative&#8221; to &#8220;stable.&#8221;



This decision means the U.S. has now lost its top-tier &#8220;triple-A&#8221; rating from all three major credit agencies, following similar downgrades by Fitch and S&amp;P Global.



Meanwhile, the 10-year Treasury bond yielded 4.54% and the two-year bond was at 4.00%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 91.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Futures</td><td>Change (+/-)</td></tr><tr><td>Dow Jones</td><td>-0.92%</td></tr><tr><td>S&amp;P 500</td><td>-1.32%</td></tr><tr><td>Nasdaq 100</td><td>-1.74%</td></tr><tr><td>Russell 2000</td><td>-1.72%</td></tr></tbody></table></figure>



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. The SPY was down 1.21% to $587.00, while the QQQ declined 1.63% to $513.00, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Cues From Last Session:



Fueled by tech giants like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), the Nasdaq Composite led the charge with a robust 7.2% gain last week, contributing to a broad market rally.



U.S. stocks finished higher on Friday, marking the S&amp;P 500&#8217;s fifth consecutive session of gains and a 5.3% weekly increase. The Dow also added 3.4% for the week.



While most S&amp;P 500 sectors closed positively on Friday, with healthcare, utilities, and real estate leading, energy stocks declined.



Economic data revealed a dip in U.S. consumer sentiment but a slight increase in both import and export prices for April. Apple also saw a ~6% gain last week.



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Index</td><td>Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>0.52%</td><td>19,211.10</td></tr><tr><td>S&amp;P 500</td><td>0.70%</td><td>5,958.38</td></tr><tr><td>Dow Jones</td><td>0.78%</td><td>42,654.74</td></tr><tr><td>Russell 2000</td><td>0.89%</td><td>2,113.25</td></tr></tbody></table></figure>



Insights From Analysts:



Ryan Detrick from Carson Research highlighted in an X post that the &#8220;bear market isn&#8217;t fully recovered yet, but it is close.&#8221;



According to the data shared by him, the bear markets between November 1980 to August 1982 and March 2000 to October 2002 staged the quickest recoveries, within three months.



&#8220;Should it happen soon, this will be the quickest recovery ever from a bear or near bear market.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No, this near bear market isn&#39;t fully recovered yet, but it is close. Should it happen soon, this will be the quickest recovery ever from a bear or near bear market. <a href="https://t.co/rbtma7WLYH">pic.twitter.com/rbtma7WLYH</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1924301522550071551?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, CNBC's Jim Cramer <a href="https://www.benzinga.com/markets/equities/25/05/45486452/jim-cramer-recalls-2011s-6-7-market-decline-after-us-debt-downgrade-says-it-ultimately-meant-nothing-dan-niles-sees-limited-downside-amid-tariff-rollbacks-fomo">recalled that</a> "the market dropped 6.7% after the last downgrade back in 2011, but it, ultimately, meant nothing." Despite weeks of market decline following that event, Cramer emphasized investors "had to stay the course." 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I write a draft for the CNBC investing club for our meeting on Wednesday i am mindful that the market dropped 6.7% after the last downgrade back in 2011 but it, ultimately, meant nothing and while the market kept falling for weeks you had to stay the course&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1924128885228085605?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Dan Niles, founder of Niles Investment Management, expects less severe market reactions this time. "Prior debt downgrades have been followed by S&amp;P drops of 8-10%," Niles noted, adding that "today, tariff rollbacks is driving a pickup in the economy &amp; the decline should be less."



Niles believes current conditions differ significantly. "Unlike in 2023 or 2011, the economic environment is improving around this debt downgrade," he wrote, citing reduced China tariffs driving trade resumption.



See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 



Upcoming Economic Data



Here&#8217;s what investors will keep an eye on this week:



<ul class="wp-block-list">
<li>On Monday, New York Fed President John Williams and Fed Vice Chair Philip Jefferson will speak at 8:45 a.m. ET.</li>



<li>April&#8217;s U.S. leading economic indicators will be out by 10:00 a.m. ET.</li>



<li>On Tuesday, Richmond Fed President Tom Barkin will speak at 9:00 a.m., Boston Fed President Susan Collins will participate in the &#8216;Fed Listens&#8217; event at 9:30 a.m., St. Louis Fed President Alberto Musalem will speak at 1:00 p.m., and Federal Reserve Governor Adriana Kugler will speak at 5:00 p.m. ET.</li>



<li>On Wednesday, Richmond Fed President Tom Barkin and Fed Governor Michelle Bowman will take part in the &#8216;Fed Listens&#8217; event at 12:15 p.m. ET.</li>



<li>On Thursday, initial jobless claims data for the week ending May 17 will be out by 8:30 a.m. ET.</li>



<li>The S&amp;P flash U.S. services and manufacturing PMI for May will be released by 9:45 a.m. ET.</li>



<li>April&#8217;s existing home sales will be announced by 10:00 a.m. ET.</li>



<li>New York Fed President John Williams will speak at 2:00 p.m. ET.</li>



<li>On Friday, Kansas City Fed President Jeff Schmid will speak at 9:35 a.m., new home sales data for April will be out by 10:00 a.m., and Federal Reserve Governor Lisa Cook will speak at 12:00 p.m. ET.</li>



<li>On Sunday, Federal Reserve Chair Jerome Powell will deliver his commencement address at 2:40 p.m. ET.</li>
</ul>



Stocks In Focus:



<ul class="wp-block-list">
<li>Trip.com Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) rose 1.11% in premarket on Monday as analysts expect it to report quarterly earnings of 86 cents per share on revenue of $1.91 billion, after the closing bell.</li>



<li>ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) dropped 1.31% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $1.87 per share on revenue of $1.85 billion.</li>



<li>Global Ship Lease Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>) was up 0.36% as analysts expect it to report quarterly earnings of $2.31 per share on revenue of $175.23 million, before the opening bell.</li>



<li>Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) was 0.62% lower after disclosing that its founder, Thomas Golisano, will step down from the company&#8217;s Board of Directors, effective after the board's July meeting.</li>



<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) jumped 15.40% after CEO Trent Ward and Sportstech CEO Ali Ahmad provided insights ahead of their first quarter earnings report, highlighting the early integration progress of TRNR&#8217;s pending acquisition of Sportstech and Wattbike.</li>



<li>Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) jumped 15% after the FDA gave its conditional approval to its COVID-19 vaccine, targeting specific populations under particular conditions.</li>



<li>Bit Origin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTOG#NASDAQ">BTOG</a>) dropped 13.27% after announcing the date for its hearing to consider confirming the company&#8217;s proposed share capital reduction, which was approved by special resolution on March 14, 2025.</li>
</ul>



Commodities, Gold, And Global Equity Markets:



Crude oil futures were trading lower in the early New York session by 0.53% to hover around $61.63 per barrel.



Gold Spot US Dollar rose 1.30% to hover around $3,243.83 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was lower by 0.80% at the 100.2840 level.



Asian markets ended lower on Monday as South Korea's Kospi, Australia's ASX 200, Japan's Nikkei 225, Hong Kong's Hang Seng, India's S&amp;P BSE Sensex, and China&#8217;s CSI 300 indices declined. European markets were also lower in early trade.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45487788/trumps-drug-price-order-hits-pbms-hardest-cvs-cigna-unh-in-focus-as-experts-highlight-racket-and-pricing-distortion">Trump&#8217;s Drug Price Order Hits PBMs Hardest: CVS, Cigna, UNH In Focus As Experts Highlight &#8216;Racket,&#8217; Pricing Distortion</a></li>
</ul>



Photo courtesy: Shutterstock

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Market Summary

Guidance

Futures

Pre-Market Outlook

BTOG

NVAX

PAYX

TCOM

TRNR

US Stocks Likely To Open Lower After Moody's Downgrade: 'Bear Market Isn't Fully Recovered Yet, But It Is Close,' Says Expert

Cybersecurity firm DTEX has compared North Korea&#8217;s cybercrime operations to a mafia organization controlled by Kim Jong Un. The operations involve a global network of North Korean technologists who infiltrate Fortune 500 companies and launder money to support Kim&#8217;s nuclear and ballistic missile ambitions.



What Happened: North Korea has intensified its strategy this year by enlisting 90 top graduates for an AI research center, while also requiring them to hand over twice their monthly earnings. This development coincides with efforts towards laundering $1.5 billion stolen in a cryptocurrency exchange hack earlier this year, <a href="https://reports.dtexsystems.com/DTEX-Exposing+DPRK+Cyber+Syndicate+and+Hidden+IT+Workforce.pdf?_gl=1&#x2A;16ngf3n&#x2A;_gcl_aw&#x2A;R0NMLjE3NDY0NzEwMjQuQ2owS0NRand0OHpBQmhES0FSSXNBSFh1RDdaT1FkeS1SWTRXbDZVZHU4a2JCZHpVR0stNmlLRy1Lakh1Y3RnbkJYREdCQ2ZnamNtbGlfZ2FBakUxRUFMd193Y0I.&#x2A;_gcl_au&#x2A;OTYxMjM2ODE2LjE3NDQwNjkwNzE.">revealed </a>the report.



These IT workers, who are part of the regime's cyber cartel, collaborate with malicious North Korean Advanced Persistent Threat (APT) groups linked to the Korean People's Army. According to UN estimates, the IT workers generate between $250 million and $600 million annually, while the APTs have stolen at least $3 billion in cryptocurrency.



Many of these IT workers and APT actors, having trained together at elite institutions such as Kim Sung Il Military University and Kumsong Academy, are familiar with one another. This network of operatives, referred to as a "bro network," is a crucial part of the cybercrime operations.



The report highlights that North Korean workers are forced to compete under brutal conditions—working up to 16 hours a day, six days a week—with minimal breaks. They keep less than 20% of their earnings and must cover costs for operations and equipment themselves, while the main beneficiaries are Kim Jong Un's family and the North Korean elite.



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/05/45485070/the-stock-market-is-shooting-through-the-roof-says-dave-ramsey-but-claims-the-medias-silent-they-want-you-ad" target="_blank" rel="noreferrer noopener">&#8216;The Stock Market Is Shooting Through The Roof,&#8217; Says Dave Ramsey. But Claims The Media&#8217;s Silent—&#8217;They Want You Addicted To Fear&#8217;</a>



Why It Matters: Earlier this year, it was reported that thousands of North Korean IT workers were impersonating Americans to land jobs at Fortune 500 companies, with their earnings being used to fund Kim Jong Un‘s illicit weapons programs. They were leveraging advanced AI to <a href="https://benzinga.com/news/25/04/44678849/north-korean-it-workers-impersonating-americans-to-land-jobs-at-fortune-500-companies-to-fund-kim-jong-uns-weapons-program-report">alter </a>their appearances and voices and even managing to hold multiple jobs simultaneously, thereby increasing the amount of money funneled back to North Korea.



Furthermore, North Korean hackers infiltrated the U.S. corporate system to launch a malware campaign aimed at crypto developers. They set up fake companies using <a href="https://www.benzinga.com/content/44999851/north-korea-spies-used-fake-us-firms-to-hack-crypto-developers-report">fake names </a>and addresses in the US to carry out their operations.



Moreover, in March, North Korea, with the help of the infamous <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44349644/kim-jong-uns-north-korea-backed-lazarus-group-now-has-more-bitcoin-than-el-salvador">hacking syndicate</a> Lazarus Group, has quietly become one of the biggest holders of Bitcoin. The stash was valued at more than double the amount held by El Salvador, the well-known Bitcoin-friendly country.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As &#8216;Greed&#8217; Sentiment Takes Over: Analyst Predicts BTC &#8216;Primed&#8217; For A New All-Time High</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Fortune 500 Companies Exploited To Fund North Korea's Nuclear Program Through Kim Jong Un's 'Mafia'-Style Cybercrime Operations: Report

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Friday.



U.S. stocks settled higher on Friday, with the S&amp;P 500 recording gains for the fifth straight session and also notching weekly gains. For the week, the S&amp;P 500 gained 5.3%, while the Dow added 3.4%. The Nasdaq Composite was the standout performer, surging 7.2% last week.



Tech stocks also recorded strong gains last week, with shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) jumping around 16% and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) gaining 8%. Shares of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), meanwhile, gained around 6% last week.



On the economic data front, the University of Michigan consumer sentiment for the US dipped to 50.8 in May compared to April&#8217;s reading of 52.2 and down from market estimates of 53.4. U.S. import prices rose by 0.1% month-over-month in April compared to a revised 0.4% decline in the previous month. U.S. export prices increased 0.1% month-over-month in April, versus market estimates of a 0.5% fall.



Most sectors on the S&amp;P 500 closed on a positive note, with health care, utilities, and real estate stocks recording the biggest gains on Friday. However, energy stocks bucked the overall market trend, closing the session lower.



The Dow Jones closed higher by around 332 points to 42,654.74 on Friday. The S&amp;P 500 gained 0.70% to 5,958.38, while the Nasdaq Composite jumped 0.52% to 19,211.10 during Friday's session.



Investors are awaiting earnings results from Global Ship Lease Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSL#NYSE">GSL</a>), ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>), and Trip.com Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) today.



At a current reading of 70.6, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 69.2.



What is CNN Business Fear &amp; Greed Index?



The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45466164/jim-cramer-prefers-autozone-over-rival-buy-the-one-thats-not-going-to-stock-split">Jim Cramer Prefers AutoZone Over Rival: &#8216;Buy The One That&#8217;s Not Going To Stock Split&#8217;</a></li>
</ul>



Photo courtesy: Shutterstock

AAPL

S&P 500 Gains For Fifth Session: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Leading cryptocurrencies rallied sharply on Sunday as investors awaited new all-time highs for Bitcoin.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.53%</td><td>$105,868.99</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.57%</td><td>$2,438.87</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+6.63%</td><td>$0.2293</td></tr></tbody></table></figure>



What Happened: Bitcoin tapped $107,000, the highest in nearly four months, in a sharp evening rally that saw trading volumes increase by almost 50%. The apex cryptocurrency was already up 11% in the month



Ethereum, on the other hand, sold off, plunging to an intraday low of $2,344.67 before recovering to the mid-$2,400s by late evening.



Over $575 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish leveraged bets accounting for $350 million.&nbsp;



That said, about $465 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rallied to $108,000.



Bitcoin's Open Interest surged 5.31% in the last 24 hours to levels not seen since December 2024. Meanwhile, bearish bets against Bitcoin spiked, with over 60% of Binance traders with open BTC positions shorting the cryptocurrency.



The "Greed" barometer increased to 74, according to the Crypto Fear and Greed Index, indicating a potential surge in buying pressure in the days to come.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Virtuals Protocol (VIRTUAL)</td><td>+19.00%</td><td>$2.00</td></tr><tr><td>Pepe (PEPE)</td><td>+12.56%</td><td>$0.00001372</td></tr><tr><td>dogwifhat (WIF)</td><td>+11.65%</td><td>$1.04</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.35 trillion, following an increase of 2.36% in the last 24 hours.



Stock futures dipped Sunday night. The Dow Jones Industrial Average Futures fell 287 points, or 0.67%, as of 8:37 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.82%, while Nasdaq 100 Futures lost 1.06%.



The sell-offs come after <a href="https://www.benzinga.com/markets/25/05/45484954/treasury-secretary-bessent-addresses-moodys-downgrade-and-tariff-impact-n-walmart">Moody's downgraded the U.S. long-term credit rating</a>, raising fears about government debt and inflation. Treasury Secretary Scott Bessent dismissed these concerns, calling Moody's a "lagging indicator."&nbsp;&nbsp;



The S&amp;P 500 extended its gains on Wednesday. The broad-based index rose 0.10% to close at 5,892.58, while the tech-focused Nasdaq Composite gained 0.72% to end at 19,146.81. The Dow Jones Industrial Average fell for the second straight day, losing 89.37 points, or 0.21%, to end at 42,051.06.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Cryptocurrency market commentator Michaël van de Poppe highlighted the potential for altcoins to outperform Bitcoin in the next days.



"M2 Supply goes up and Bitcoin is primed for a new ATH. Altcoins are outperforming Bitcoin on every move upwards. I think we're in for a great 6-8 week period," Van De Poppe stated. Notably, Bitcoin touched an all-time high of $109,114.88 on Jan. 20, 2025. It is currently trading 3.72% below those levels.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All the <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are making higher lows and confirming buying pressure. M2 Supply goes up and <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is primed for a new ATH. Altcoins are outperforming Bitcoin on every move upwards. I think we&#39;re in for a great 6-8 week period.&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1924200569276920143?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Cryptocurrency analyst and trader Ali Martinez commented on Ethereum's outlook, painting $3,000 and $4,000 as the next upside targets if the cryptocurrency holds above $2,200.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">According to the pricing bands, as long as <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> holds above $2,200, the next upside targets could be $3,000 and possibly $4,000 as bullish momentum builds. <a href="https://t.co/Y8goRUPaAj">https://t.co/Y8goRUPaAj</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1924145073006018858?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Yalcin Sonat On Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45484640/25-74-trillion-shiba-inu-stuck-as-shib-trapped-in-uncertainty-amid-market-downturn">25.74 Trillion Shiba Inu Stuck, As SHIB Trapped In Uncertainty Amid Market Downturn</a></li>
</ul>

Cryptocurrency

Movers

$BTC

$DOGE

$ETH

Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As 'Greed' Sentiment Takes Over: Analyst Predicts BTC 'Primed' For A New All-Time High

Former U.S. President Joe Biden has been diagnosed with an aggressive form of prostate cancer that has metastasized to his bones, as reported by Reuters on Sunday. 



What Happened: The diagnosis was made on Friday after Biden, 82, experienced urinary symptoms. He and his family are currently considering treatment options with medical professionals.



The cancer is described as hormone-sensitive, which allows for effective management, his office stated. Prostate cancers that have spread are classified as Stage 4, the most advanced stage. The&nbsp;Centers for Disease Control and&nbsp;Prevention notes that in 2021, 70% of prostate cancer cases were detected before spreading beyond the prostate.



Biden&#8217;s health has been under scrutiny during his presidency from 2021 to 2025. He ended his reelection campaign last July following a debate performance against&nbsp;Donald Trump&nbsp;that concerned Democrats. Trump expressed sympathy for Biden and his family on Truth Social.



Biden&#8217;s cancer scored a nine on the Gleason score, indicating a very high risk. Dr. Herbert Lepor from NYU Langone mentioned&nbsp;that many men can live&nbsp;five to 10 years and beyond with metastatic prostate cancer. Dr. Chris George from Northwestern Health Network stated that while the&nbsp;cancer is no longer curable&nbsp;once spread to the bones, treatments are available to control it.



President Donald Trump said on Truth Social Sunday that he and Melania were &#8220;saddened to hear about Joe Biden's recent medical diagnosis. We extend our warmest and best wishes to Jill and the family, and we wish Joe a fast and successful recovery.&#8221;



See Also: <a href="https://benzinga.com/markets/equities/25/05/45484990/voice-of-america-purge-trump-appointed-chief-fires-600-reporters-with-j-1-visa-face-deportation" target="_blank" rel="noreferrer noopener">Voice of America Purge? Trump-Appointed Chief Fires 600; Reporters With J-1 Visa Face Deportation</a>



Why It Matters Last year, Biden announced a substantial $240 million investment to combat cancer, enhancing the administration's <a href="https://www.benzinga.com/etfs/23/12/36101788/bidens-million-dollar-moonshot-240-million-is-a-boon-for-cancer-research-will-it-be-a-boost-for-phar">"Cancer Moonshot"</a> initiative. This funding, distributed through the Advanced Research Projects Agency for Health (ARPA-H), supports projects aimed at cancer prevention, detection, and treatment.



Additionally, Biden&#8217;s administration has been actively involved in healthcare cost reforms. In August, the Centers for Medicare and Medicaid Services revealed the first ten drugs <a href="https://www.benzinga.com/general/biotech/23/08/34087337/biden-targets-cancer-diabetes-drugs-in-controversial-medicare-price-battle-wants-to-cut-billions-">subject to price negotiations</a> under Biden&#8217;s Inflation Reduction Act. This move targets reducing the costs of cancer and diabetes drugs, among others, which accounted for a significant portion of prescription drug costs.



Photo Courtesy: OogImages On Shutterstock.com



Check This Out:



<ul class="wp-block-list">
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Joe Biden Diagnosed With Advanced Prostate Cancer, Trump Wishes Former President A 'Fast And Successful Recovery'

As shares of UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) witness a steep decline, company insiders are stepping up to the plate with a series of insider buys, which analysts and experts say is &#8220;a strong signal.&#8221;



What Happened: On Saturday, popular investment newsletter The Kobeissi Letter shared a post on X highlighting UnitedHealth&#8217;s new CEO, Stephen Hemsley, acquiring a significant stake in the company, worth $25 million, according to filings with the Securities and Exchange Commission.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is interesting: Stephen Hemsley, the new CEO of UnitedHealth, <a href="https://twitter.com/search?q=%24UNH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNH</a>, bought $25 million worth of the stock on Friday. He is the latest of multiple insiders to begin buying shares amid the historic decline. What does it tell you if insiders are buying here? <a href="https://t.co/BqM4Ksabsy">pic.twitter.com/BqM4Ksabsy</a>&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1923782787909197829?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



&#8220;He is the latest of multiple insiders to begin buying shares amid the historic decline,&#8221; the post says, referring to the three directors, Timothy Flynn, Kristen Gil and John Noseworthy, who purchased shares worth $491,786, $1,003,329 and $93,647, respectively, in the company last week. 



This is in addition to UnitedHealth&#8217;s CFO, John Rex, who bought shares worth $5 million, according to SEC filings.



See Also: <a href="https://www.benzinga.com/25/05/45485704/joe-biden-diagnosed-with-advanced-prostate-cancer-trump-wishes-former-president-a-fast-and-successful-recovery">Joe Biden Diagnosed With Advanced Prostate Cancer, Trump Wishes Former President A &#8216;Fast And Successful Recovery&#8217;</a>



Replying to the post, investment manager&nbsp;Mike Shell&nbsp;says that investing personal capital after a sharp decline is a &#8220;strong signal&#8221; that&nbsp;management perceives &#8220;positive asymmetry&#8221; in the stock, suggesting limited downside risks, relative to its recovery potential.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Investing personal capital after a sharp decline is a strong signal they perceive positive asymmetry: limited further downside versus potential recovery gains.&mdash; Mike Shell (@MikeWShell) <a href="https://twitter.com/MikeWShell/status/1924108362909733063?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: UnitedHealth shares have witnessed a steep decline since its disappointing <a href="https://benzinga.com/analyst-ratings/price-target/25/04/44902410/unitedhealth-group-stock-is-getting-crushed-whats-fueling-the-selloff">first quarter results</a> last month, when the company narrowly missed expectations, posting earnings of $7.20 per share versus the consensus estimate of $7.29.



However, it&#8217;s been under scrutiny <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">ever since the assassination</a> of its insurance unit CEO, Brian Thompson, in December 2024, by a disgruntled insurance patient, Luigi Mangione.



The stock once again <a href="https://www.benzinga.com/25/05/45373368/unitedhealth-stock-plunges-names-new-ceo-suspends-2025-guidance">witnessed a pullback</a> last week, following the abrupt departure of its CEO, Andrew Witty. Former CEO Hemsley was reinstated, and the company subsequently withdrew its full-year guidance.



To make matters worse, a Wall Street Journal report claimed that UnitedHealth was under a <a href="https://benzinga.com/general/health-care/25/05/45426769/unitedhealth-stock-plunges-over-8-in-after-hours-trading-as-doj-criminal-probe-adds-to-turmoil-after-ceo-shake-up">federal criminal investigation</a> focusing on its Medicare Advantage business practices. The company refuted these claims, stating that it has not been notified of any supposed criminal investigation by the Department of Justice.



While several experts see this string of insider buying as a sign of a turnaround to come, investor Jeremy Lefebvre posted on X, calling the company &#8220;straight trash.&#8221; 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People want to know my opinion on <a href="https://twitter.com/search?q=%24UNH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNH</a> Straight trash. They are going to go thru years of investigations and it will be a mess. Doesn't mean it can't work for short term trade but it reminds me of <a href="https://twitter.com/search?q=%24BA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BA</a> stock many year ago. Boeing is still a mess even now. Your opinion? <a href="https://t.co/1eMPaXrAJJ">pic.twitter.com/1eMPaXrAJJ</a>&mdash; Jeremy Lefebvre (@HolySmokas) <a href="https://twitter.com/HolySmokas/status/1923806928951775450?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Lefebvre says the company will go through years of investigation, and that it will &#8220;be a mess,&#8221; before drawing parallels with Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), which he says &#8220;is still a mess even now.&#8221;



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td class="has-text-align-center" data-align="center">UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)</td><td class="has-text-align-center" data-align="center">7 Days</td><td class="has-text-align-center" data-align="center">Month</td><td class="has-text-align-center" data-align="center">Year-To-Date</td><td class="has-text-align-center" data-align="center">12 Months</td></tr><tr><td class="has-text-align-center" data-align="center"></td><td class="has-text-align-center" data-align="center">-23.41%</td><td class="has-text-align-center" data-align="center">-31.37%</td><td class="has-text-align-center" data-align="center">-42.14%</td><td class="has-text-align-center" data-align="center">-43.56</td></tr></tbody></table><figcaption class="wp-element-caption">UnitedHealth shares have witnessed steep declines across multiple periods in recent months.</figcaption></figure>



Price Action: Shares of UnitedHealth were up 6.40% on Friday, following news of insider buying, but are down 1.46% pre-market. The stock remains down by 42.14% year-to-date, and 53.8% from its all-time high in November last year.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="139" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1024x139.png" alt="" class="wp-image-919079" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1024x139.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM-1536x208.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18221810/Screenshot-2025-05-19-at-7.47.57-AM.png 1592w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



According to Benzinga&#8217;s Edge Stock Rankings, UnitedHealthcare group has an unfavorable price trend in the short, medium, and long term. You can check more comprehensive metrics <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>. 



Shutterstock/The Image Party



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Health Care

Insider Trades

UnitedHealth CEO, Other Insiders Buy Millions In Stock As It Sinks Over 23% In A Week: Move Gets 'Mixed' Reaction

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has surged beyond the&nbsp;$105,000 mark, setting off a $250 billion rally in the wider cryptocurrency market.



On Sunday, Bitcoin&#8217;s climb to $105,424.45 has pushed its market value over $2.05 trillion and significantly lifted altcoin prices. 



According to reports, this surge follows a mix of inflation data, increased confidence regarding interest rate cuts, and significant&nbsp;fund inflows from both retail&nbsp;and institutional investors.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="656" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18152345/Screenshot-2025-05-19-005306-1024x656.png" alt="" class="wp-image-918981" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18152345/Screenshot-2025-05-19-005306-1024x656.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18152345/Screenshot-2025-05-19-005306-300x192.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18152345/Screenshot-2025-05-19-005306-768x492.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18152345/Screenshot-2025-05-19-005306.png 1052w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



The rise in Bitcoin&#8217;s price,&nbsp;a 37.5% increase from its&nbsp;April low of less than $75,000, is propelled by a combination of strong&nbsp;technical breakouts and positive macro&nbsp;conditions. 



Open interest in Bitcoin futures has reached&nbsp;a record high of over&nbsp;$36 billion, indicating growing trader conviction.



The broader crypto market is&nbsp;benefiting from Bitcoin&#8217;s surge, with total capitalization exceeding $2.65 trillion—an increase of&nbsp;over $250 billion in just&nbsp;five trading days. 



Bitcoin&#8217;s dominance is now over 53.2%, its highest in more than&nbsp;three years, as capital continues&nbsp;to shift&nbsp;into large-cap digital assets amid&nbsp;increasing&nbsp;regulatory clarity in major markets.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45335892/decade-old-bitcoin-whale-emerges-transfers-207-51-million-btc-with-nearly-112000-profit">Decade-Old Bitcoin Whale Emerges, Transfers $207.51 Million BTC With Nearly 112,000% Profit</a>



Several&nbsp;macroeconomic and market catalysts are&nbsp;contributing to Bitcoin's parabolic move. These converging factors seem&nbsp;to have set the stage&nbsp;for Bitcoin's current breakout and&nbsp;may continue to support price&nbsp;appreciation in the short to&nbsp;medium term.



While Bitcoin is grabbing headlines, altcoins are also making a comeback.&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) jumped 12% in&nbsp;24 hours, breaking over important&nbsp;resistance at $6,000.



Analysts monitoring the $110,000–$115,000 area&nbsp;as the next main obstacle&nbsp;believe Bitcoin's breach over $105K&nbsp;could pave the way for&nbsp;more upside. 



The present increase&nbsp;could still have legs given&nbsp;ETF inflows ongoing and macro&nbsp;conditions staying good; particularly, if&nbsp;Ethereum ETFs become popular in&nbsp;the next weeks.



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45485038/robert-kiyosaki-predicts-bitcoin-to-reach-250000-buy-more-do-not-sell">Robert Kiyosaki Predicts Bitcoin To Reach $250,000: &#8216;Buy More. Do Not Sell.&#8217;</a>



Image: Shutterstock

Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally

Last week, gold and silver prices dropped after the U.S. and China agreed to temporarily reduce most tariffs on each other&#8217;s goods. This could be driving a <a target="_blank" href="https://www.benzinga.com//node/45429569" rel="noreferrer noopener">rotation out of safe-haven assets</a>.



Most gold mining stocks were among the top ten large-cap worst performers in the last week. Are they in your portfolio?



<ol class="wp-block-list">
<li>UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) shares dipped 23.31%  in reaction to a media report on a possible investigation <a href="https://www.benzinga.com//node/45443695" target="_blank" rel="noreferrer noopener">for criminal Medicare fraud</a>.</li>



<li>Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) shares were down 9.46%.</li>



<li>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) shares declined 9.43%.</li>



<li>Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>) stock fell 9.27%.</li>



<li>AngloGold Ashanti PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) stock dived 9.06%.</li>



<li>Kinross Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) stock fell 8.96%.</li>



<li>Wheaton Precious Metals Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPM#NYSE">WPM</a>) shares decreased 8.48%</li>



<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares were down 8.47%.</li>



<li>Barrick Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) stock decreased 8.38%.</li>



<li>Royal Gold, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) stock dived 7.20%.</li>
</ol>



Image Via Shutterstock

Large Cap

Commodities

RGLD

Gold Mining Stocks Were Among Top 10 Large-Cap Losers Last Week (May 12-May 16): Are These In Your Portfolio?

The past weekend was a whirlwind of news in the tech and auto industries. From&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) showcasing its Full Self-Driving (FSD) capabilities to&nbsp;Uber&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) doubling down on its autonomy upside, there was no shortage of developments.



Let&#8217;s dive into the top stories.



Tesla Teases FSD Capabilities Ahead Of Robotaxi Event



Tesla is building anticipation for its upcoming Robotaxi event in Austin, Texas, by flaunting its FSD technology. A video surfaced over the weekend showing a Tesla vehicle skillfully navigating through traffic near Los Angeles&#8217;s LAX airport using Supervised FSD.



<a href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event">Read the full article here.</a>



Gary Black Doubles Down On Uber&#8217;s Autonomy Upside



Gary Black, a fund manager and long-term Tesla bull, has reaffirmed his belief in Uber&#8217;s potential in the autonomous vehicle sector. In a lengthy post, Black reflected on his past views on Tesla and the EV industry, asserting that his predictions have been validated over the years.



<a href="https://www.benzinga.com/25/05/45339797/gary-black-doubles-down-on-ubers-autonomy-upside-reflects-on-tesla-debates-i-was-right-on-volume-pr-and-robotaxis">Read the full article here.</a>



See Also:&nbsp;<a href="https://benzinga.com/25/05/45481170/as-tesla-stock-witnesses-nearly-45-surge-in-one-month-elon-musk-asks-minnesota-governor-tim-walz-hows-your-day-br" target="_blank" rel="noreferrer noopener">As Tesla Stock Witnesses Nearly 45% Surge In One Month, Elon Musk Asks Minnesota Governor Tim Walz, &#8216;How&#8217;s Your Day Bro?&#8217;</a>



Ross Gerber Praises Waymo&#8217;s Self-Driving Taxis



Investor Ross Gerber has lauded&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Waymo&#8217;s self-driving technology, stating that it performs better than human drivers. This could spell increased competition for ride-sharing and autonomous vehicle rivals.



<a href="https://www.benzinga.com/25/05/45341851/ross-gerber-calls-waymos-self-driving-taxis-better-than-human-says-theyre-tough-competition-for-uber-and-tesla">Read the full article here.</a>



Bezos-Backed Slate&#8217;s 100,000 EV Orders Challenge Cybertruck Hype



The Slate electric pickup truck, backed by Amazon.com founder Jeff Bezos, has racked up 100,000 orders, posing a potential challenge to Elon Musk and Tesla&#8217;s Cybertruck. Early demand suggests that the Slate EV pickup truck could be a hit.



<a href="https://www.benzinga.com/news/25/05/45381497/jeff-bezos-backed-slate-hit-100k-ev-reservations-in-2-weeks-how-it-compares-to-cybertruck-launch">Read the full article here.</a>



Republicans Target EV Perks With New Bill



House Republicans have introduced legislation to eliminate the electric vehicle tax credit and repeal fuel efficiency rules. This could disrupt billions in automaker investments and has sparked industry concerns about abrupt policy changes.



<a href="https://www.benzinga.com/markets/equities/25/05/45366272/republicans-target-ev-perks-with-new-bill-ford-tesla-rivian-face-fallout-as-200-billion-in-battery-belt-investments-hang-in-balance">Read the full article here.</a>



Read Next:



<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/global/25/05/45478121/why-a-danish-company-is-telling-elon-musk-thanks-for-the-ride-and-returning-its-tesla-fleet" target="_blank" rel="noreferrer noopener">Why A Danish Company Is Telling Elon Musk &#8216;Thanks For The Ride&#8217; — And Returning Its Tesla Fleet</a></li>
</ul>



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>



Photo courtesy: Shutterstock

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Elon Musk's Tesla Teases FSD Capabilities, Jeff Bezos-Backed Slate's 100,000 EV Orders Challenge Cybertruck Hype And More: This Week In Mobility

Elon Musk is facing a lawsuit filed by three swing state voters. The plaintiffs allege that Musk failed to fulfill his promise of payment&nbsp;for signing a petition from&nbsp;his political action committee, America PAC.



What Happened: The lawsuit claims that Musk had committed to paying voters in seven states&nbsp;for signing a petition and&nbsp;referring others to do the&nbsp;same, in the lead-up to the 2024 presidential election. 



The plaintiffs assert that&nbsp;America PAC&nbsp;did not meet its contractual obligations by failing to fully compensate the petition-signers.



The lawsuit, lodged in a federal court in Pennsylvania, anticipates the inclusion of more than &#8220;100 class members&#8221;, with the total amount owed exceeding $5 million, <a href="https://fortune.com/2025/05/16/elon-musk-america-pac-lawsuit-petition-signature-payments-2024-presidential-election/">reports</a> Fortune.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For every person you refer who is a swing state voter, you get $47! Easy money. <a href="https://t.co/5jCNuXIaui">https://t.co/5jCNuXIaui</a>&mdash; Kekius Maximus (@elonmusk) <a href="https://twitter.com/elonmusk/status/1843133043961381178?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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&#8220;This&nbsp;case is about a broken&nbsp;promise: Elon Musk promised supporters&nbsp;that they would be paid&nbsp;for signing a petition and&nbsp;referring others to do the&nbsp;same,&#8221; stated Shannon Liss-Riordan, the plaintiffs&#8217; representative.



Also Read: <a href="https://www.benzinga.com/news/25/05/45484920/more-than-a-feud-elon-musk-bill-gates-spat-sheds-light-on-competing-views-of-efficiency">More Than a Feud: Elon Musk-Bill Gates Spat Sheds Light on Competing Views of Efficiency</a>



America PAC, which Musk established in May 2024, raised over $200 million for Donald Trump&#8217;s presidential campaign. A similar lawsuit was filed in April by a Pennsylvania man who alleged that he was owed $20,000 for gathering signatures.



Despite these allegations, America PAC spokesperson Andrew Romeo has denied any misconduct, asserting that the PAC is committed to compensating for every legitimate petition signature.



Why It Matters: This lawsuit against Musk and America PAC could potentially tarnish their reputations and raise questions about their ethical practices. It also highlights the ongoing legal challenges faced by political action committees in their fundraising and campaign efforts. 



The outcome of this case could have significant implications for future PAC operations and campaign strategies.



Read Next



<a href="https://www.benzinga.com/general/sports/25/05/45483236/shaq-rolls-up-in-a-cybertruck-elon-musk-has-this-one-word-response">Shaq Rolls Up In A Cybertruck — Elon Musk Has This One-Word Response</a>



Image: Shutterstock

Elon Musk's PAC Promised $100 Per Signature—Now It's Facing a Lawsuit

Robert Kiyosaki predicts a significant surge in Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value, attributing it to a potential collapse <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44550875/robert-kiyosaki-thinks-saving-in-cash-is-a-bad-idea-heres-why">of the central bank system</a>.



What Happened: In a post on X on Saturday, Kiyosaki, the author of the best-selling book &#8220;Rich Dad Poor Dad,&#8221; expressed his belief that gold, silver, and Bitcoin will continue to appreciate in value. 



He attributed this to what he describes as the impending crash of the &#8220;Marxist Central Bank system.&#8221; Kiyosaki further predicted that Bitcoin&#8217;s value would climb to $250,000 within the year, urging his followers to buy more and hold onto their existing assets.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Q: Why will gold, silver, and Bitcoin continue to grow in value? A: The Marxist Central Bank system is crashing…. Many going bankrupt. Keep HODLing. I am and buying more Bitcoin. I predict Bitcoin climbs to $250 k this year. Buy more. Do not sell.&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1923760378237841626?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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While Kiyosaki&#8217;s views are not universally shared, they reflect a growing sentiment among some investors that traditional banking systems are becoming increasingly unstable. 



Also Read: <a href="https://www.benzinga.com/25/05/45186165/robert-kiyosakis-stern-warning-tariffs-wont-protect-you-tariffs-only-increase-inflation-as-jobs-are-lost-and-wages-come-down">Robert Kiyosaki&#8217;s Stern Warning: &#8216;Tariffs Won&#8217;t Protect You, Tariffs Only Increase Inflation As Jobs Are Lost And Wages Come Down&#8217;</a>



This belief has led to a surge in interest in alternative assets like cryptocurrencies, which are seen as a hedge against potential economic downturns.



Why It Matters: Kiyosaki&#8217;s prediction comes at a time when cryptocurrencies, particularly Bitcoin, are gaining mainstream acceptance as a legitimate asset class. His views underscore the increasing concern among investors about the stability of traditional banking systems, and the potential for alternative assets like Bitcoin to provide a hedge against economic uncertainty.



While Kiyosaki&#8217;s prediction of a $250,000 Bitcoin is certainly bold, it reflects a broader trend of increasing investor interest in cryptocurrencies. 



As traditional banking systems face growing scrutiny, cryptocurrencies like Bitcoin are likely to continue attracting attention as potential hedges against economic instability.



Read Next



<a href="https://www.benzinga.com/news/25/04/44886845/robert-kiyosaki-says-millions-could-be-out-of-work-heres-his-game-plan" target="_blank" rel="noreferrer noopener">Robert Kiyosaki Says Millions Could Be Out of Work — Here's His Game Plan</a>



Image: Shutterstock/creativeneko

Robert Kiyosaki Predicts Bitcoin To Reach $250,000: 'Buy More. Do Not Sell.'

The Trump administration has intensified its critique of Europe's digital regulations, asserting that they pose a risk to free speech <a href="https://www.benzinga.com/25/05/45466937/us-targets-european-digital-rules-in-free-speech-campaign-defending-american-big-tech" target="_blank" rel="noreferrer noopener">and American commercial interests</a>.



The Trump administration forged a preliminary deal with the United Arab Emirates involving importing 500,000 of&nbsp;Nvidia Inc.'s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/government/regulations/25/05/45441791/nvidia-scores-big-as-trump-brokers-major-ai-export-pact-with-uae-and-us-tech-giants" target="_blank" rel="noreferrer noopener">advanced AI chips&nbsp;annually</a>.



Senate Minority Leader&nbsp;Chuck Schumer&nbsp;(D-N.Y.) warned that President&nbsp;Donald Trump&#8217;s&nbsp;support for exporting sensitive U.S. artificial intelligence chip&nbsp;technology to <a target="_blank" href="https://www.benzinga.com/25/05/45459318/chuck-schumer-blasts-trump-for-backing-ai-chip-sales-to-saudi-arabia-uae-warns-deal-risks-us-tech-secrets-falling-into-chinas-hands" rel="noreferrer noopener">Persian Gulf allies&nbsp;could benefit China</a>.



Automobiles &amp; EV



Future Fund LLC&#8216;s&nbsp;Gary Black&nbsp;believes&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as well as&nbsp;Uber Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) will benefit from increased EV adoption as well as <a href="https://www.benzinga.com/markets/equities/25/05/45341220/top-bull-gary-black-shares-why-he-is-holding-on-to-uber-and-tsla-our-investment-thesis-on" target="_blank" rel="noreferrer noopener">growth in Autonomous Driving</a>.



Uber announced it has partnered with peer-to-peer car-sharing company&nbsp;Turo&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TURO#NYSE">TURO</a>) to upgrade the&nbsp;Uber Rent <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45450623/whats-going-on-with-uber-stock-on-thursday" target="_blank" rel="noreferrer noopener">experience for users in the U.S</a>.



Future Fund LLC&#8217;s managing director,&nbsp;Gary Black,&nbsp;has shared his thoughts on&nbsp;Pony AI&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)&nbsp;stock as the Chinese AV company gears up for the quarterly results slated <a href="https://www.benzinga.com/tech/25/05/45345942/gary-black-weighs-in-on-pony-ais-growth-ahead-of-earnings-report-a-recently-announced-partnership-with-uber" target="_blank" rel="noreferrer noopener">to be released next Tuesday</a>.



Tesla has touted the company&#8217;s FSD (Full Self-Driving) technology ahead of next month&#8217;s <a target="_blank" href="https://www.benzinga.com/tech/25/05/45342188/elon-musks-tesla-teases-fsd-capabilities-ahead-of-june-robotaxi-event" rel="noreferrer noopener">Robotaxi launch in Austin, Texas</a>.



Tesla battery supplier&nbsp;Contemporary Amperex Technologies Co. Ltd., plans to raise over $4 billion through a stock listing <a target="_blank" href="https://www.benzinga.com/25/05/45343633/tesla-battery-supplier-catl-to-raise-4-billion-through-hong-kong-listing-report" rel="noreferrer noopener">on Hong Kong&#8217;s stock exchange</a>.



Technology &amp; Telecommunications



Cisco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) reported quarterly earnings of 96 cents per share, which beat the analyst consensus estimate of 92 cents and revenue of $14.15 billion, which beat the <a href="https://www.benzinga.com/news/earnings/25/05/45422303/cisco-shares-climb-after-q3-eps-revenue-beat-estimates-details" target="_blank" rel="noreferrer noopener">Street estimate of $14.08 billion</a>.



Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;launched the&nbsp;Galaxy S25 Edge, a 5.8 mm-thin, 163-gram smartphone, just four months after unveiling <a href="https://www.benzinga.com/25/05/45366293/samsung-unveils-ultra-thin-galaxy-s25-edge-in-surprise-launch-amid-slowing-demand-and-tariff-uncertainty-apple-reportedly-plans-to-catch-up-in-september" target="_blank" rel="noreferrer noopener">the rest of the S25 series</a>.



Nvidia is reportedly expanding its research footprint in China with a new Shanghai-based R&amp;D center, signaling a strategic push to retain AI dominance in the region <a href="https://www.benzinga.com/media/25/05/45460918/jensen-huang-led-nvidia-plans-new-shanghai-research-hub-to-stay-competitive-in-china-as-us-export-curbs-threaten-ai-chip-sales-report" target="_blank" rel="noreferrer noopener">amid tightening U.S. export restrictions</a>.



Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) announced significant advancements&nbsp;in its co-packaged optics (CPO) technology on Thursday, with the launch of its third-generation 200G per lane <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45448759/broadcom-unveils-next-gen-optical-chip-tech-to-power-ai-data-centers" target="_blank" rel="noreferrer noopener">(200G/lane) CPO product line</a>.



Sony&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) launched on Thursday an upgrade&nbsp;for its wireless noise-cancelling <a href="https://www.benzinga.com/media/25/05/45469713/sonys-new-wh-1000xm6-headphones-use-ai-to-adapt-sound-in-real-time-heres-whats-new" target="_blank" rel="noreferrer noopener">headphones,&nbsp;called the WH-1000XM6</a>.



Smartphones



Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a new artificial intelligence-powered <a href="https://www.benzinga.com/25/05/45367075/apple-reportedly-leans-on-ai-to-solve-iphone-battery-woes-in-ios-19-update-ahead-of-thinner-iphone-17-launch-this-fall" target="_blank" rel="noreferrer noopener">battery optimization tool for</a><a href="https://www.benzinga.com/25/05/45367075/apple-reportedly-leans-on-ai-to-solve-iphone-battery-woes-in-ios-19-update-ahead-of-thinner-iphone-17-launch-this-fall" target="_blank" rel="noreferrer noopener">&nbsp;iOS 19</a>.



Apple has reassured the Indian government of its commitment to continue&nbsp;using India as a major&nbsp;manufacturing base. This assurance comes despite Trump's recent remarks, with government sources emphasizing that there is "no change" <a target="_blank" href="https://www.benzinga.com/markets/25/05/45462006/no-change-in-apples-production-plans-says-india-despite-trumps-little-problem-with-ceo-tim-cook-report" rel="noreferrer noopener">in Apple's investment plans in India</a>.



Also Read:<a target="_blank" href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt" rel="noreferrer noopener">Apple Executive Says iPhone Users Are Ditching Google — Now Chamath Palihaptiya Urges The Search Giant To Stop Waiting For Data And Start Fighting Models Like ChatGPT</a>



Image: Shutterstock/Hepha1st0s

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Consumer Tech News (May 12-May16): Trump's Europe Critique Intensifies, UAE Gets Nvidia AI Chips, Apple To Stay In India & More

These large-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol class="wp-block-list">
<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) stock surged 56.32%  after Nvidia disclosed it added a stake in the company via a 13F filing equating to approximately 24.18 million shares. JP Morgan and Needham also raised their respective <a href="https://www.benzinga.com//node/45472274" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>



<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock escalated 44.26% after the company announced that it entered into a strategic partnership under a <a href="https://www.benzinga.com//node/45471297" target="_blank" rel="noreferrer noopener">memorandum of understanding</a> with DataVolt.</li>



<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) stock jumped 33.68% after the company announced a partnership with Webull Pay to power crypto experiences. Additionally, Benchmark raised its price forecast <a href="https://www.benzinga.com//node/45471661" target="_blank" rel="noreferrer noopener">on the stock from $252 to $301</a>.</li>



<li>NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) shares rose 33.41% after announcing a $12 billion acquisition of LS (Luminus Systems) <a href="https://www.benzinga.com//node/45388224" target="_blank" rel="noreferrer noopener">Power&#8217;s generation assets</a>.</li>



<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) stock rose 27.19% amid overall market strength following softer-than-expected April inflation readings. Additionally, investors continue to weigh the progress of the U.S.-China trade and President Trump&#8217;s Middle East trip.</li>



<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) shares increased 26.86% on reports indicating the House GOP budget will cut but not remove <a href="https://www.benzinga.com//node/45385748" target="_blank" rel="noreferrer noopener">wind and solar tax credits</a>.</li>



<li>Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) stock grew 25.52% after the company recently reported better-than-expected financial results and raised its FY25 sales guidance with its midpoint above estimates. The company, acting as a collaboration partner of Invenra, initiated the dose-escalation stage of the first-in-human Phase 1 clinical study of XB628. Citigroup raised its <a href="https://www.benzinga.com//node/45418036" target="_blank" rel="noreferrer noopener">price forecast from $45 to $56</a>.</li>



<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) stock rose 24.67%. The company announced that NASA had chosen it to launch its Aspera mission and disclosed the return of its Pioneer spacecraft <a href="https://www.benzinga.com//node/45434506" target="_blank" rel="noreferrer noopener">to Varda Space Industries</a>.</li>



<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) has gained 24.42% in the last week. The stock has rallied since reporting strong first-quarter financial results on May 5. However, the company has a high short float and may be <a href="https://www.benzinga.com//node/45297555" target="_blank" rel="noreferrer noopener">facing a short squeeze</a>.</li>



<li>On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) shares escalated 21.71% after the company reported its first-quarter results, and analysts<a href="https://www.benzinga.com//node/45413809" target="_blank" rel="noreferrer noopener"> revised the price forecast</a>.</li>



<li>Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) stock gained 20.87% after the U.S. and China agreed to reduce most tariffs on each other&#8217;s goods temporarily. A reduction in tariffs could alleviate supply chain and macroeconomic uncertainty and help boost consumer sentiment.</li>
</ol>



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CoreWeave, Super Micro Computer And Coinbase Are Among Top 11 Large-Cap Gainers Last Week (May 12-May 16): Are The Others In Your Portfolio?

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